Russell Investments Group Ltd. Acquires 20,285 Shares of Onto Innovation Inc. (NYSE:ONTO)

Russell Investments Group Ltd. increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 53.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,567 shares of the semiconductor company’s stock after buying an additional 20,285 shares during the quarter. Russell Investments Group Ltd.’s holdings in Onto Innovation were worth $8,955,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ONTO. Vanguard Group Inc. lifted its holdings in shares of Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after acquiring an additional 27,695 shares during the last quarter. Pacer Advisors Inc. boosted its position in Onto Innovation by 2,306.3% in the fourth quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock valued at $1,681,000 after buying an additional 10,540 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Onto Innovation by 854.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock worth $45,266,000 after buying an additional 265,042 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Onto Innovation by 153.6% during the fourth quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 8,792 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in shares of Onto Innovation during the fourth quarter worth $913,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock worth $8,266,955 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ONTO shares. Benchmark boosted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Evercore ISI started coverage on Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price objective on the stock. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Stifel Nicolaus raised their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, B. Riley increased their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $191.60.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $208.65 on Tuesday. The stock has a market capitalization of $10.25 billion, a PE ratio of 84.82 and a beta of 1.40. Onto Innovation Inc. has a 52 week low of $84.17 and a 52 week high of $210.11. The stock has a 50 day moving average price of $184.43 and a two-hundred day moving average price of $159.98.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.57 EPS. Research analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current year.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.